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Independent Bank (McKinney, TX)

Popular Accounts at this Bank

APYACCOUNT TYPEACCOUNT NAME
1.50%Reward CheckingFree Rewards Checking
0.50%Reward SavingsREALSaver
1.40%5-year CD5 Year CD

Overview / Commentary
972-562-3426
3090 Craig Drive
McKinney, TX 75070

Independent Bank (McKinney, TX) is headquartered in Mckinney and is the 11th largest bank in the state of Texas. It is also the 191st largest bank in the nation. It was established in 1913 and as of June of 2016, it had grown to 546 employees at 43 locations. Independent Bank (McKinney, TX) has an A+ health rating.

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Reviews (3)

Poor Service/Customer Service

Have been a long time customer even before it was purchased by Independent Bank. What a shame. Service is lacking, but more important, when you walk in a branch, the people working there all look like they dislike their jobs. Therefore; service is equivalent. They really don't want to help you and they made that very clear. If you want service, this is not the place to go.

SNEAKY PEOPLE!

Posted by: TwinsDad | Jan 23, 2013

BEWARE! They changed the qualification criteria in Dec but didn't update the website until after the statement closed in January! When I called to complain they referred to a fine print at the very bottom of the Nov statement! Taking my money elsewhere.

Beware - This Bank Will Gouge You!

Posted by: disgusted | Oct 6, 2011

My "free" checking account at Independent Bank (Little Elm, TX branch) suddenly developed monthly service charges totalling $11.00. The charges showed up on my September bank statement. When I inquired about the charges, I was told: "We mailed out a letter in June to all free checking account holders to inform them that service charges were being initiated". Further inquiry resulted in the revelation that Independent Bank offers yet another "free checking account", but I must come in and apply for the new account in person. Even if such a change were being initiated, why couldn't the bank have politely informed account holders in June that ANOTHER type of free account is available???? The simple answer is that this bank has taken this opportunity to extract funds from its account holders who either ignored their letter or, worse yet, never received it . I have no recollection and no record in my files of having received the letter supposedly mailed in June. I have closed my account at Independent Bank and will never do business with them again. Perhaps others can profit from my experience. (I have awarded one star to this bank due to the fact that it is not possible to award zero stars.)



Health
A+

Health Grade Components

Overall
FDIC Certificate #3076
Year Established1913
Employees546
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.12%
Return on Equity - YTD8.23%
Annual Interest Income$103.4MM
Assets and Liabilities
AssetsQ2 2016vs Q2 2015$5.44B$4.37B
LoansQ2 2016vs Q2 2015$4.23B$3.36B
DepositsQ2 2016vs Q2 2015$4.21B$3.47B
Equity CapitalQ2 2016vs Q2 2015$751.0MM$640.6MM
Loan Loss AllowanceQ2 2016vs Q2 2015$30.9MM$21.8MM
Unbacked Noncurrent LoansQ2 2016vs Q2 2015$13.2MM$6.6MM
Real Estate OwnedQ2 2016vs Q2 2015$1.6MM$3.0MM
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Independent Bank (McKinney, TX) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*-$15kREALSaver
OTHER TIERS: 0.15% $15k+
0.30%*$100k*-Index Fund Account
OTHER TIERS: 0.10% Up to $25k | 0.20% $25k - $50k | 0.25% $50k - $100k
0.15%$50-Regular Savings

Independent Bank (McKinney, TX) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$500-Money Market

Independent Bank (McKinney, TX) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.50%*-$15kFree Rewards Checking
OTHER TIERS: 0.15% $15k+
1.00%$1,500-IOLTA
0.25%$500-Platinum Club Account
0.05%$500-NOW Checking

Independent Bank (McKinney, TX) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.40%$1k-5 Year CD
0.90%$1k-3 Year CD
0.80%$1k-3 Year Step Up CD
0.60%$1k-2 Year CD
0.55%$1k-15 Month CD Special
0.35%$1k-1 Year CD
0.20%$1k-180 Day CD
0.10%$1k-90 Day CD
0.05%$1k-30 Day CD

Independent Bank (McKinney, TX) IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.40%$250-5 Year IRA CD
0.90%$250-3 Year IRA CD
0.60%$250-18 Month IRA CD
0.35%$250-1 Year IRA CD
Locations

Independent Bank (McKinney, TX) has 42 locations. Click to view all Independent Bank (McKinney, TX) locations.